By Shadia Nasralla,Stephanie Kelly
Copyright reuters
SummaryCompaniesNitzana to carry 600 mln cubic feet/day from Leviathan gasfieldPart of bigger effort to increase Israeli gas exports to EgyptNitzana to bring Israel-Egypt exports to 2.2 bln cubic feet/day
LONDON, Sept 16 (Reuters) – Chevron (CVX.N), opens new tab has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to transport gas from the Leviathan gasfield to Egypt, the U.S. company said on Tuesday.
Nitzana would ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas and is part of a concerted effort to boost Israeli gas exports to the Arab world’s most populous nation.
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Last month, the owners of the Leviathan natural gas field off Israel signed a $35 billion export deal to supply gas to Egypt. Leviathan, owned by NewMed (NWMDp.TA), opens new tab, Chevron and Ratio Energies (RATIp.TA), opens new tab, holds gas reserves of some 600 billion cubic metres.
The Nitzana pipeline route will transport around 600 million cubic feet of natural gas per day, once construction finishes in about three years, Chevron said, adding this would bring Israel’s total export capacity to Egypt to more than 2.2 billion cubic feet per day.
Gas producer Energean (ENOG.L), opens new tab has said it plans to send up to 2 billion cubic metres of gas a year on Nitzana from its Katlan field offshore Israel, due to start production in 2027.
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The plan was announced on the same day a United Nations Commission of Inquiry concluded that Israel had committed genocide in Gaza. Israel called the assessment “scandalous” and “fake.”
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Reporting by Shadia Nasralla and Stephanie Kelly; Editing by Emelia Sithole-Matarise and Bernadette Baum
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Shadia NasrallaThomson ReutersWrites about the intersection of corporate oil and climate policy. Has reported on politics, economics, migration, nuclear diplomacy and business from Cairo, Vienna and elsewhere.Stephanie KellyThomson ReutersA New-York-based correspondent covering the U.S. crude market and member of the energy team since 2018 covering the oil and fuel markets as well as federal policy around renewable fuels.
